Business
Drill Results
Drill Results.
About this update from Capital Metals Plc
[{"type":"text","content":"\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n 21 June 2022\n \n \n \n \n \n \n Capital Metals plc\n \n \n \n (\"CMET\" or the \"Company\")\n \n \n \n Remaining Drill Results Confirm Further Exceptional Higher Grades\n \n \n \n \n Capital Metals plc (AIM: CMET), a mineral sands company that is now approaching mine development at the Eastern Minerals heavy mineral sands project in Sri Lanka (the \"Project\"), one of the highest-grade mineral sands projects globally, is pleased to announce the second half of results from the late-2021 auger drilling programme.\n \n \n \n \n Highlights\n \n \n \n ·\n Drill results from Komari and Urani North, situated in the south of the Project\n \n \n ·\n Exceptional high-grade results of up to 86.1% Total Heavy Minerals (\"THM\"), including:\n \n \n \n \n \n \n - \n 1.5m @ 51.9% THM from 1.5m\n \n \n \n \n \n \n - \n 1.1m @ 41.8% THM from 0m\n \n \n \n \n \n \n - \n 2.5m @ 38.4% THM from 0m\n \n \n \n \n \n \n - \n 2m @ 36.2% THM from 1.5m\n \n \n \n \n \n \n - \n 2.5m @ 35.2% THM from 0.5m\n \n \n \n \n \n \n ·\n Average grade of results from the full 560-hole 2021 drilling programme is 19.37% THM, compared to the existing JORC resource grade of 17.6%, indicating the potential for both volume and grade increases\n \n \n \n \n \n ·\n All results from surface to a maximum of only 3.5m depth (average depth 1.5m from surface) ended in mineralisation providing scope for resource extension at depth\n \n \n \n \n \n \n Michael Frayne, Chief Executive Officer, commented:\n \n \n \n \"Results from the second half of our auger drilling campaign continued a similarly encouraging pattern to all recent drilling campaigns and underlines that our Project is amongst the highest-grade mineral sands deposits in the world. These and future results are anticipated to continue to uplift the average grade of our current global resource, which at 17.6% THM is already in the highest quartile globally. This is expected to both expand the existin...